BoE’s Salmon seeks to fix deadline for delayed Libor replacement
Chris Salmon sets three-month target to finalise transition plan
The Bank of England's Chris Salmon has sought to end debate over how to implement a new benchmark interest rate in the UK, recommending a three-month limit to finalise plans.
Efforts to come up with a new risk-free rate to replace Libor have become mired in disagreement over how to handle the transition. An alternative to Libor was meant to launch in early 2016, but the deadline came and went.
Salmon, the BoE's executive director for markets, says in an open letter published on December 6 that a
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